Rethink Accepting Counteroffers

Rethink Accepting Counteroffers

Two businessmen shaking hands, side view

Imagine this scenario:

You’re unsatisfied in your current job and begin looking around for a new one. Other companies make you offers that have you ready to hand in your two weeks notice. However, when your current employer hears about this, they come back with a competitive offer. Maybe it’s a higher salary, an extra bonus, more vacation time, etc. Now you’re wondering if you should just stick around.

It may be tempting to take your boss up on the offer. However, you might want to think twice. It might just be that you’re looking at your time in the company with rose-colored glasses when given a good counteroffer. In fact, 93% of the people who took counteroffers left their job within 18 months. When presented with a counteroffer, you need to be able to look past what your employer is promising you.

Think about why you were planning on leaving in the first place. Was it the salary or benefits? Was it the structure of the company or the culture of the office? Was it a lack of ability to meet your career goals? Make sure you keep these things in mind while entertaining a counteroffer.

If you only had one issue, maybe the counteroffer is perfect for you. If your employers are able to help you with something you’re unhappy with, it may be worth staying. They may be able to put you on track for a new position or create more opportunity for you. However, don’t look into other companies to try to get to force your boss’s hand.

It’s important to be realistic. If you had a fundamental issue with the culture of your company, that’s not going to go away overnight. If your employer isn’t in the position to give you a promotion, you’re not going to be able to expand your role. A lot goes into making a job the right fit. Don’t let a higher pay distract you from that.

The fact of the matter is that a change in your career, whether it’s a new employer or a new understanding with you current one, is about your needs. While it may be worth hearing your current employer out, it may be better to get a fresh start somewhere else. Look at what your own career goals are and where you’re going to better achieve that. Keeping that in mind will help make you, and therefore your employer, much happier.